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White-Collar Crimes Examples in Malta: Millions of Euros Involved in Fraudulent Schemes
The Maltese authorities have recently charged a building contractor and a former clerk with making false declarations to the tax commissioner, money laundering, and fraud involving millions of euros. In another case, several individuals were found guilty of social benefits fraud after claiming to suffer from epilepsy.
What is White-Collar Crime?
White-collar crime refers to non-violent, financially motivated offences committed by individuals or organisations usually in the course of their business or professional activities. Other forms of white-collar crime include:
- Fraud in public contracts
- Healthcare fraud
- Embezzlement
- Insider trading
Consequences of White-Collar Crime
While violent crime tends to attract more attention due to its brutal nature, white-collar crime can have significant consequences for individuals, companies, and society as a whole. Despite this, the Maltese authorities are often criticized for not being tough enough on white-collar criminals, with many cases going unprosecuted or undetected.
Efforts to Combat White-Collar Crime
However, there are signs that things may be changing for the better in Malta. Our reporting indicates that more prosecutions involving huge sums of money are underway, and anti-financial crime processes have been re-engineered to make them more effective against white-collar criminals.
Challenges in Prosecuting White-Collar Criminals
Despite these efforts, more work is needed to toughen up laws regulating white-collar criminal activities and provide law enforcement agencies with the resources they need to effectively combat this type of crime. White-collar criminals often use sophisticated methods to hide their activities, including:
- Complex financial schemes
- Offshore accounts
The use of high-quality legal representation can also make it challenging for authorities to prosecute white-collar criminals successfully. Moreover, some individuals with links to politics may have an advantage in avoiding prosecution.
The Importance of Combating White-Collar Crime
White-collar crime tends to deprive society of the resources that would otherwise be used to provide public services. It is essential that the Maltese public takes this type of crime more seriously, and politicians must dispel any impression that they condone white-collar crime, especially when committed by individuals close to them or their party.
Conclusion
In recent years, government ministers have appealed to ordinary citizens to do their civic duty by paying taxes in full and on time. However, it is equally important that the “big fish” are not allowed to get away with depriving public coffers of vast revenues for redistribution. There is still a long way to go before the public can have full confidence in the authorities’ ability to effectively prosecute white-collar crimes.